Allianz Asset Management GmbH Invests $3.83 Million in Adeia Inc. $ADEA

Key Points

• Allianz Asset Management acquired 116,456 Adeia shares worth approximately $3.83 million, representing a 0.11% stake. Institutional investors collectively own 97.36% of the company.
• Analyst sentiment is moderately bullish: four analysts rate Adeia a Buy and two rate it Hold, with an average price target of $37.60 versus the reported share price of $27.20.
• Adeia exceeded quarterly earnings expectations, reporting $0.34 in EPS versus the $0.31 consensus estimate, and declared a quarterly dividend of $0.05 per share, or $0.20 annualized.

Allianz Asset Management GmbH acquired a new stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 116,456 shares of the company's stock, valued at approximately $3,835,000. Allianz Asset Management GmbH owned 0.11% of Adeia at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company's stock valued at $25,000 after acquiring an additional 1,180 shares during the period. Quarry LP boosted its holdings in Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company's stock valued at $27,000 after purchasing an additional 1,127 shares in the last quarter. IFP Advisors Inc acquired a new stake in Adeia during the third quarter valued at approximately $28,000. Public Employees Retirement System of Ohio bought a new stake in shares of Adeia in the 2nd quarter valued at approximately $34,000. Finally, Osaic Holdings Inc. grew its stake in shares of Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company's stock valued at $37,000 after purchasing an additional 2,309 shares during the period. 97.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADEA. Rosenblatt Securities restated a "buy" rating and set a $40.00 target price on shares of Adeia in a research report on Tuesday, August 4th. BWS Financial upped their price target on Adeia from $30.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Zacks Research upgraded Adeia from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Finally, Weiss Ratings cut Adeia from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Adeia has an average rating of "Moderate Buy" and an average price target of $37.60.

Adeia Stock Up 2.6%

Shares of ADEA opened at $27.20 on Wednesday. The company has a market capitalization of $3.00 billion, a P/E ratio of 25.19 and a beta of 1.38. Adeia Inc. has a one year low of $11.61 and a one year high of $34.34. The business's 50 day simple moving average is $27.37 and its 200-day simple moving average is $27.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25.

Adeia (NASDAQ:ADEA - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. The company had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. Adeia had a return on equity of 39.26% and a net margin of 26.05%. As a group, sell-side analysts predict that Adeia Inc. will post 1.17 EPS for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, August 24th will be issued a $0.05 dividend. The ex-dividend date is Monday, August 24th. This represents a $0.20 annualized dividend and a yield of 0.7%. Adeia's dividend payout ratio (DPR) is currently 18.52%.

Adeia Company Profile

Adeia Inc NASDAQ: ADEA is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.

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